Massive intervention by the plunge protection team, buying stocks across the board, rocketed the stock market higher on Wednesday, with NQ closing over 350 points from prior day close.
The PPT is certain to continue their stocks buying activities into the end of the year, in order to make thing looks good for Trump. On Wednesday President Trump went on national TV to tell people to buy stocks. Whether or not they can continue to rally the market higher, it is difficult to say.
For NQ key intraday support on Thursday will be 6160-6180.
-- NQ may pullback down to 6160-6180 support before continuing to rally to higher high. However, if 6160 does not hold on any pullback down move, a clear break below 6160 is an indication the forces of deflation is overwhelming the buying power of the PPT. If so, algos selling is going to tank the market again.
